Xiaomi released the company’s first-quarter performance report for 2021. According to the data, in the first quarter, Xiaomi Group’s total revenue was 76.9 billion yuan. A year-on-year increase of 54.7%. The net profit was 6.1 billion yuan, a year-on-year increase of 163.8%.

In the first quarter of 2021, Xiaomi’s smartphone business revenue reached 51.5 billion yuan. A year-on-year increase of 69.8%. The gross profit margin of the smartphone business reached 12.9%. Global smartphone shipments reached 49.4 million units.

In the first quarter of 2021, IoT and consumer products business revenue reached 18.2 billion yuan. A year-on-year increase of 40.5%.

In the first quarter of 2021, Internet service revenue reached 6.6 billion yuan. A year-on-year increase of 11.4%. The gross profit margin of the Internet business reached 72.4%.

In the first quarter of 2021, Xiaomi’s overseas market revenue reached 37.4 billion yuan, a year-on-year increase of 50.6%.

As of March 31, 2021, Xiaomi has invested in more than 320 companies with a total book value of 51.9 billion yuan, a year-on-year increase of 60.8%.

▲On May 26, Xiaomi closed at 28.150 Hong Kong dollars

Xiaomi released
Xiaomi released its financial report: revenue of 76.88 billion yuan.

Xiaomi released the total cost of sales

Moreover, The cost of sales of the smartphone segment increased by 60.9% from 27.9 billion yuan in the first quarter of 2020 to 44.9 billion yuan in the first quarter of 2021, mainly due to the increase in smartphone sales.

IoT and consumer products

The cost of sales of the IoT and consumer products segment increased by 38.7% from 11.2 billion yuan in the first quarter of 2020 to 15.6 billion yuan in the first quarter of 2021. Mainly due to the increase in sales of IoT and consumer products.

Xiaomi released Internet service

The cost of sales of the Internet services segment decreased by 28.2% from RMB 2.5 billion in the first quarter of 2020 to RMB 1.8 billion in the first quarter of 2021, mainly due to the reduction in the cost of financial technology business caused by the reduction in credit loss provisions.

other

The cost of sales of other segments decreased by 8.5% from RMB 499.4 million in the first quarter of 2020 to RMB 456.7 million in the first quarter of 2021.

Selling and promotion expenses

Moreover, Sales and promotion expenses increased by 58.6% from 2.6 billion yuan in the first quarter of 2020 to 4.2 billion yuan in the first quarter of 2021. Mainly due to the increase in packaging and transportation expenses and sales and promotion staff salaries.

Furthermore, Packaging and transportation expenses increased by 90.6% from 600 million yuan in the first quarter of 2020 to 1.1 billion yuan in the first quarter of 2021. Mainly due to our overseas business expansion in the first quarter of 2021.

The salary of sales and promotion staff increased by 93.6% from 400 million yuan in the first quarter of 2020 to 800 million yuan in the first quarter of 2021, mainly due to the increase in sales and promotion staff in the first quarter of 2021.

Administrative expenses

Administrative expenses increased by 26.4% from 781.5 million yuan in the first quarter of 2020 to 987.7 million yuan in the first quarter of 2021. Mainly due to the increase in the salaries of administrative staff.

R&D expenditure

R&D expenditure increased by 61.0% from 1.9 billion yuan in the first quarter of 2020 to 3 billion yuan in the first quarter of 2021. Mainly due to the increase in R&D staff salaries and R&D projects.

Xiaomi ranked third in global smartphone shipments in the first quarter

Moreover, According to Canalys data, Xiaomi ranked third in global smartphone shipments in the first quarter of 2021, with a market share of 14.1%. The scale of Internet services continues to expand. In March 2021. MIUI’s global monthly active users were 425 million. A year-on-year increase of 28.6%. At the same time, Xiaomi’s smartphone business grew steadily in the Chinese mainland market. With shipments increasing by 74.6% year on year. With the continuous breakthrough of high-end product strength, in Q1 of 2021. Furthermore, The global shipments of smartphones priced at RMB 3,000 or above in mainland China. And overseas priced at 300 euros and above exceed 4 million.

In addition, As of March 31, 2021, the number of IoT devices connected to the Xiaomi AIoT platform (excluding smartphones and laptops) reached 351 million. Moreover, there are 6.8 million users with five or more devices connected to the Xiaomi AIoT platform (excluding smartphones and laptops). A year-on-year increase of 48.9%. In March 2021. In addition, the number of monthly active users of Xiao Ai was 93 million. The number of monthly active users of the Mijia App increased by 22.8% year on year to 49.2 million.

By Mr John

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